Validity of the existing Hand Book of Procedures, 2015 20 is extended upto 31st March, 2023

## Report on Amendment to Foreign Trade Policy (FTP) 2015-2020 **1. Executive Summary:** This report analyzes a Public Notice issued by the Directorate General of Foreign Trade (DGFT), Department of Commerce, Ministry of Commerce and Industry, Government of India, which amends the Foreign Trade Policy (FTP) 2015-2020 and its Handbook of Procedures (HBP). The core purpose of this amendment is to extend the validity of certain provisions within the FTP 2015-2020 and its Handbook of Procedures. The key finding is that the amendment extends key dates, primarily related to the applicability of certain regulations, from September 30, 2022, or June 30, 2022, to March 31, 2023. This extension provides continued validity for existing procedures and benefits for stakeholders engaged in foreign trade. **2. Introduction:** This report provides an overview and analysis of Public Notice No. 26/2015-2020, dated September 29, 2022, issued by the DGFT. This analysis focuses solely on the information contained within the provided policy text and aims to inform affected industries about the changes introduced. **3. Policy Overview:** * **Original Policy:** Foreign Trade Policy (FTP) 2015-2020. * **Core Objective(s):** Based on the provided text, the core objective of the *amendment* is to extend the timeline for existing policies within the FTP 2015-2020. The original policy's broader objectives are not detailed in the provided text. **4. Background and Rationale:** The provided text doesn't explicitly state the reason for this amendment. However, it can be inferred that this extension is likely due to a need to maintain the continuity of existing foreign trade procedures and incentives beyond the originally planned expiration dates. This extension allows businesses more time to adapt to any potential new policy implementations or changes in the economic environment. It prevents any abrupt disruption to existing trade processes. **5. Key Provisions / Changes:** This Public Notice introduces the following key changes to the Handbook of Procedures (HBP), 2015-20: * **Change 1:** * **Original Provision:** Paragraph 1.01 stated the HBP would remain in force until "30th September, 2022". * **New Provision:** This phrase is replaced with "31st March, 2023." * **Effect:** Extends the validity of the Handbook of Procedures until March 31, 2023. All provisions within the HBP will continue to be applicable until this date. * **Change 2:** * **Original Provision:** Paragraph 3.20(a) included the phrase "or 30.06.2022, whichever is later". * **New Provision:** This phrase is replaced with "or 31.03.2023, whichever is later". * **Effect:** Extends the deadline mentioned in paragraph 3.20(a) to March 31, 2023, if that date is later than other relevant dates specified in that paragraph. This provides additional time for fulfilling requirements or availing benefits under that specific provision. * **Change 3:** * **Original Provision:** Paragraph 4.12(vi) contained the date "30.09.2022" in the first sentence. * **New Provision:** The date is replaced with "31.03.2023". * **Effect:** Modifies the deadline to March 31, 2023, for actions or eligibility criteria detailed within paragraph 4.12(vi). **6. Target Audience and Stakeholders:** Based on the provided text, the primary target audience and stakeholders are: * Exporters and Importers: Businesses engaged in foreign trade that rely on the guidelines and procedures outlined in the Foreign Trade Policy and its Handbook of Procedures. * Trade Facilitation Agencies: Organizations involved in assisting and supporting foreign trade activities. **7. Implementation Aspects (Inferred):** * **Responsible Agency:** The Directorate General of Foreign Trade (DGFT) is responsible for implementing these changes. * **Timeline:** The amendment takes effect immediately (as stated: "with immediate effect" in the Public Notice). The extended deadlines are explicitly stated as March 31, 2023. **8. Expected Outcomes / Impact of Changes:** The primary expected outcome of these changes is to ensure the smooth continuation of existing foreign trade activities without disruption. Specifically: * Businesses benefit from extended timelines for compliance and availing of benefits under the HBP 2015-20. * It allows for continued operation under existing regulations, avoiding potential uncertainty or policy gaps. * Provides additional time for the government to formulate and implement any new or revised trade policies. **9. Conclusion:** The Public Notice No. 26/2015-2020, dated September 29, 2022, extends the validity of key provisions within the Foreign Trade Policy 2015-2020's Handbook of Procedures until March 31, 2023. This extension ensures continuity for businesses engaged in foreign trade and provides a stable regulatory environment. This amendment is a significant update for stakeholders involved in international trade, allowing them to continue operating under the existing framework for an extended period.

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